Announcements
January 19, 2024: ANNOUNCEMENT: Minimum and Maximum Starting Prices; REMINDER: Parameters for the March 2024 Auction
The minimum starting price in the March 2024 Auction is $100/MWh and the maximum starting price is $135/MWh. In round 1 of the Auction, the price will be set no lower than the minimum starting price and no higher than the maximum starting price.
Additionally, on January 18, 2024, during the webcast, the Auction Manager announced the following parameters for the March 2024 Auction, which are repeated below for convenience:
- the tranche target and size of each tranche
|
Product |
Delivery Period | Tranche Target | Load Cap | Tranche Size |
| 12-Month | June 2024-May 2025 | 50 | 40 | 1% |
- MW-measure of each tranche
| PLC (MW)* | 1,709 |
| MW-measure | 17.09 |
*The PLC (MW) is based on the five highest coincident peaks experienced by PJM in 2023 for SSO customers (i.e., non-shopping only). The MW-measure is provided for reference purposes only. The amount of actual quantity to be delivered depends on many factors (e.g., migration of SSO customers).
- the credit-based tranche caps
The credit-based tranche caps have been increased for the March 2024 Auction and are provided in the table below:
| Credit Rating for Bidder or Guarantor | |||
| S&P | Moody's | Fitch | Credit-Based Tranche Cap |
| BB and above | Ba2 and above | BB and above | No cap |
| BB- | Ba3 | BB- | 15 |
| Below BB- | Below Ba3 | Below BB- | 8 |
| Not rated |
8 | ||
Click here to submit a question to the Auction Manager.